Overseas Property Specialistshttp://pwpi.co.uk
Tue, 06 Mar 2018 00:26:33 +0000en-GBhourly1https://wordpress.org/?v=4.9.4http://pwpi.co.uk/wp-content/uploads/2017/05/cropped-new-logo-background-1-32x32.jpgOverseas Property Specialistshttp://pwpi.co.uk
3232Spain overtakes US to become the world’s second most visited countryhttp://pwpi.co.uk/spain-overtakes-us-to-become-the-worlds-second-most-visited-country/
http://pwpi.co.uk/spain-overtakes-us-to-become-the-worlds-second-most-visited-country/#respondWed, 24 Jan 2018 10:27:21 +0000http://pwpi.co.uk/?p=2631Read More &raquo]]>Spain has beaten the United States to become the world’s second most visited country after France, it has been revealed. The Spanish Prime Minister Mariano Rajoy confirmed that his nation has seen a surge in tourism while speaking at an event during a visit to Italy. He revealed how 82 million people had visited Spain in 2017, a nine per cent increase from the previous year that came despite the Barcelona terror attacks and the political crisis in Catalonia.

Tourism earnings rose also 12 per cent to 87 billion euros ($104 billion), the Prime Minister said in Rome while attending a summit on migration. Mr Rajoy praised the Spanish tourism sector’s ‘great effort’ to become more competitive. Arrivals in Spain beat records for the fifth consecutive year. Tourism has also benefited from a boom in renting flats out to tourists via web platforms such as Airbnb. In 2016, Spain welcomed 75.3 million visitors, just behind the United States with 75.6 million, while France – despite its own terror woes – easily remained the world leader with 82.6 million visitors, according to the UN World Tourism Organization (UNWTO). – Daily Mail

]]>http://pwpi.co.uk/spain-overtakes-us-to-become-the-worlds-second-most-visited-country/feed/0Second biggest year for Student property investments!http://pwpi.co.uk/second-biggest-year-for-student-property-investments/
http://pwpi.co.uk/second-biggest-year-for-student-property-investments/#commentsTue, 06 Jun 2017 21:47:11 +0000http://pwpi.co.uk/?p=2553Read More &raquo]]>Student property had its second biggest year on record in 2016, with the sector on course for a total investment of £3.1 billion.

New research shows that demand for student accommodation remains strong in the UK, with 1.7 million people now studying full-time, up 0.4 per cent from the previous year. At the start of 2017, therefore, the student property sector is bullish about its stability.

With over £1bn of potential investments currently queued for sale, Student Residential Investment team, predicts that 2017 will “undoubtedly” be another strong year for transactions, with investors – particularly those from overseas – increasingly turning to alternative assets, such as student accommodation, in search of returns unavailable elsewhere.

“The Brexit vote is by no means all about uncertainty; on the contrary, investors in student property will come to appreciate just how stable the sector is,”.

The sector has already proven that it is counter-cyclical during times of economic instability, as the global financial crisis had no negative effect upon the proportion of young people attending university. The UK’s exit from the EU is expected to be no different, with any immediate weakness in the pound only making the country more affordable to overseas students.

“When we leave the EU, it won’t affect non-EU overseas students who already need a visa,” “As for EU students, they only represent 5 per cent of the UK student body. But those who do want to come will have to go through the usual application procedures; a visa will just be another form among many and really shouldn’t put anybody off a British university education.

“With no limit on the number of students being taken in by UK universities since 2015, all of this indicates that numbers are set to continue growing.”

At its heart, meanwhile, the student accommodation sector continues to be powered by a fundamental imbalance between supply and demand.

Despite intensive development in some areas, the ratio of students seeking a purpose-built bed has increased, with the national student-to-bed ratio climbing from an average of 2.1 to 2.3 students per bed space.

With demand outstripping supply, rents have risen by an average of 2.7 per cent, a trend that experts expect to continue in the coming year.

“The historical demand for a British education shows no signs whatsoever of easing up. New student numbers hit record levels in the UK in 2016 for the fourth year in a row – and this included a sizable increase in those coming from the continent,”.

With the UK the second most popular university destination after the US, the company argue that the demand “isn’t going to be satisfied anywhere else”.

Of course, supply levels differ across the country; one noteworthy trend in 2016 was the shift in focus of investment activity away from over saturated major cities such as London into key under supplied regional cities.

“On top of this, the wider housing shortage is still growing, and further attempts by the government to free up residential homes for families – and not students – is highlighting the necessity for purpose built alternatives in the sector”.

We have already seen a “large number” of experienced buy-to-let investors getting in touch to discuss Purpose Built Student Accommodation investments.

“We expect this to continue into Q3 & Q4 of 2017,”

View Our Current Student Investment Deals

http://pwpi.co.uk/second-biggest-year-for-student-property-investments/feed/1Now is the time to buy Spanish property!http://pwpi.co.uk/now-is-the-time-to-buy-spanish-property/
http://pwpi.co.uk/now-is-the-time-to-buy-spanish-property/#respondMon, 15 May 2017 11:41:28 +0000http://pwpi.co.uk/?p=2427Read More &raquo]]>

Now is the time to buy Spanish property, say 7 in 10 Spaniards, as confidence in the country’s real estate climbs.

71 per cent of those responding to a survey said that it is “good time” to buy property. The poll of 1,000 people asked for them to score their views from 0 (pessimistic) to 200 (optimistic), resulting in an average of 112, which suggests that domestic buyers think that the country’s property is an attractive investment – a marked turnaround from a few years ago.

Factors fuelling the upbeat sentiment include the fall in prices since the housing crisis, the fact that real estate is a stable asset and the recovering market, which now offers “real opportunities”.

With 35 per cent saying that prices are now rising and 43 per cent saying that prices are stable, though, for those who can afford property, such as foreign investors, can be reassured by the spreading positive mood surrounding Spain’s property market.

Spain’s Golden Visa scheme is picking up speed. After a lacklustre start to the initiative, investment soared 62.8 per cent last year, according to reports from newspaper Cinco Dias.

The scheme offers permanent residence in the country, which includes travel within the Schengen area, to investors who spend a minimum of €500,000 on real estate. While similar schemes in other countries have enjoyed strong success, Spain’s Golden Visa scheme has struggled to generate a strong response. Despite that initially slow start, though, new figures suggest that the scheme is picking up speed, with Golden Visa investment jumping 63 per cent in the year to October 2016: from €1.05 billion in October 2015 to €1.71 billion.

Real estate accounts for 94 per cent of all Golden Visa transactions, with Chinese and Russian buyers leading the way. The number of purchases by Chinese buyers jumped 75 per cent year-on-year, while Russian investment volume rose 46 per cent. Madrid and Malaga were the most popular destinations respectively, followed by Alicante, Valencia and Barcelona.

The surge in Golden Visa transactions highlights Spain’s diverse international appeal. Indeed, the country is normally associated with British buyers, keen to retire on the sunny Costas and turn as pink as lobsters alongside other UK expats. With the UK voting to leave the European Union, though, the pound’s weakness against the euro appears to have sapped some of the momentum from British buyers in Spain.

According to data received, British buyers are now increasingly looking to budget options to counter the more expensive currency exchange rate. Demand for properties below £50,000 on the Spanish site is now “hugely outstripping” supply by four to one.

Richard Speigal, Head of Research at Kyero, comments: “There are a host of factors pushing buyers towards ruin renovation at the moment. We’ve seen from the huge boom in searches for Spanish property that the Brexit vote seems to have, if anything, whetted Brits’ appetite for Spanish homes rather than driving down interest. At the same time, buyers from the UK are looking for cheaper solutions as a result of the pound’s decline, so buying a dilapidated farmhouse and doing it up is an attractive option.”

While Russian and Chinese buyers step up their activity, meanwhile, Swedish investors are also moving in to fill any spaces in the market.

“Swedish demand is important in Alicante and the Costa del Sol, where they are the second biggest group of foreign buyers behind the British. Indeed, Swedish sales at the end of 2016 (2,797) outstripped 2015 (2,755), with home purchases in the last two quarters each reaching around 1,000. Like Russian and Chinese buyers, Swedish purchases are also focused on Alicante and Malaga. Swedish buyers are “loyal and less impulsive” than British buyers.

With overall enquiries for Spanish property doubling towards the end of 2016, wherever they come from, whether high-end or on a bargain budget, Spain’s housing market does not look to be short of foreign buyers in the near future.

2016 was a good year for Spain’s property market, with reports indicating there was a 15% increase in property transactions in 2016 over those of 2015. Real estate forecasts have predicted a continued healthy growth over the year 2017. After the 2008 financial crisis drove property prices to rock bottom in Spain, there was nowhere to go but up. The Spanish property market crash officially ended mid-2014, after which the market has experienced 10 consecutive quarters of steady growth. At this point for Spain, there’s no looking back.

International interest in Spanish property remains high for both those who are relocating as well as those looking for holiday homes. Indeed, one in five homes is purchased by a foreigner with British nationals ranking as the top buyers in Spain. While there was some concern that the Brexit vote and the decreasing value of the pound would lessen interest from the UK, this is not the case as Spanish property is still in high demand from UK buyers. In addition, as UK property prices continue to increase, many British retirees are starting to sell and move to Spain where their saved earnings can purchase better properties.

Aside from the Brits, non-European buyers are also to thank for the growing Spanish property market. Spain’s Golden Visa Program was introduced in 2013 in an effort to help boost the country’s waning economy. In return for an investment in Spain, foreign nationals obtain a temporary resident visa for one year, renewable for two-year periods thereafter. This temporary visa can lead to permanent residency after five years, and citizenship after ten. Investors through this program have helped carry Spain out of its economic slump post-financial crisis.

While there are many investment options available through Spain’s Golden Visa Program, the property investment option is always the most preferred by investors around the world. First, the minimum investment price is only EUR 500,000 compared to the EUR 1 million plus requirement of other available options. Second, with the Spanish property market forecasts continuing to look up, savvy investors with an appetite for risk are buying properties at low prices now to be able to make sizeable capital gains on future resale.

The minimum property investment must be EUR 500,000 excluding tax and other conditions in order to qualify. Mortgages (financing) may be obtained on properties purchased above the required value. In other words, if an investor has his or her eyes set on a EUR 750,000 property, a mortgage can be obtained on the excess amount of EUR 250,000. The minimum EUR 500,000 value can be spread out over multiple properties if desired.

Benefits of the Golden Visa

Holders of the temporary resident permit through the Golden Visa Program will be granted access throughout Europe’s Schengen zone without visa requirements. Further, they can stay within the Schengen region for a duration of 90 days in every six-month period. Another advantage of the Golden Visa Program is the requirement to only visit Spain for one day during each residency period. There is no obligatory physical residence in the country as with other similar programs.

An investor’s spouse and children under 18 years old can be included in a single application. All visa holders receive the right to live, work, and study anywhere in Spain. In addition, applications are processed very quickly, within two months.

Conclusion

Spain’s housing market has made a remarkable turnaround since 2014 from its former state of despair. Spain’s government established the Golden Visa Program to help pull the country out of recession and toward economic recovery. Foreign investors have fuelled the resurgence of the real estate market in Spain; however, with its still ridiculously low real estate prices, profit is the likely outcome. Although growth is steady rather than spectacular, prices will rebound to former highs nonetheless.

The most important aspect of applying to Spain’s Golden Visa Program is finding the right property to suit your needs. Will it be a vacation home or a permanent residence? Will it be rented out for supplementary income? Is it located in an area expected to see continued growth in the foreseeable future? Before committing any funds, one must be sure that the selected property is a solid investment. Our office can assist you with every step of your application process, including the property purchase. Allow us the opportunity to guide you to a Spanish Golden Visa while simultaneously investing in a property (or properties) with great future potential. Now is the time to invest. Look at one of the opportunities we have below that qualifies you for the Spain Golden Visa today! Contact our office today!

OUR CURRENT OPPORTUNITY

Limited selection of 2 bedroom townhouses within a 4* resort for just £144,000!!!

For the first time in decades, there are now more renters than homeowners in Detroit, and investors are racing to secure returns while they are still available.

Data from the US Census Bureau reveals that renters now make up 51.6 per cent of Motor City’s housing market, overtaking homeowners for the first time in years. Indeed, Detroit’s rate of home ownership has been declining for the last decade, partly due to foreclosures following the global financial crisis and partly fueled by a more recent generational shift towards renting: across the US as a whole, home ownership has also declined in the last 10 years.

Analysis of data from the USA’s top rental markets (where home ownership rates are at their lowest), though, reveals one major difference between Detroit and other tenant-heavy cities: Detroit’s house prices are significantly lower. Cities such as San Francisco have seen workers priced out of the housing market, due to the Silicon Valley boom pushing up property values: the city has an average house price of $1,147,300, according to Zillow. In Newark City (New Jersey), where the home ownership rate is 21.7 per cent, house prices are an average of $231,900. In Detroit, home ownership is at a higher 49.4 per cent, but prices are at an average $38,200, according to Zillow.

The result is a buy-to-let market that has encouraged interest from overseas investors: Michigan was the third most popular state on TheMoveChannel.com in 2016, accounting for 1 in 7 enquiries about US property. The window, though, is closing, warn agents.

Nicholas Feeney, Managing Partner of Platinum Worldwide Property Investments comments: from our partners “I think that 5-7 years ago investors seen Detroit as a risky investment, especially with the bankruptcy application. Since this time, Detroit has come back and is stronger than ever making this a lot less riskier investment for people to make.”

The city’s economy has shown signs of reversing its fortunes, following that bankruptcy filing in 2013. General Motors has invested over $11 billion in the last two years to create or preserve jobs, the company said in a statement earlier this year. GM has also pledged a further $1 billion in US investment in 2017 to create a further 1,500 new jobs. In total, the company expects to create more than 5,000 new US jobs in the next few years.

Now, the city makes up 70 per cent of Global Investments’ sales, as buyers race to secure property before prices climb too high. According to Zillow, values have risen 12 per cent in the last 12 months.

“Prices are moving rapidly and good stock is getting harder for us to find, meaning that the window of opportunity to invest is slowly closing,” adds our partners.

“Obviously, the price point is important. Investors are also looking for a minimum amount of money in, with a maximum return, and again there are not many places in the world that you can buy turn key ready properties for $35,000 all in with full on the ground management, which we provide in every city we sell homes in.”

Much of the positive growth is attributed to a lack of available stock. In November 2015, there were 21,559 homes and condos on the market in the four-county region that includes Wayne, Oakland, Macomb and Livingston. In the same month in 2016, there were 12,520, a 41.9 per cent drop. This is causing quick turnaround times for sellers, as the average number of days on the market fell from 45 in November 2015 to 39 in 2016, a 13.3 per cent fall.

“We have definitely seen an increase in our average sale of approx $5,000 per door”

That potential for future capital growth is also helping to attract investors seeking long-term assets, as opposed to quick speculative purchases.

“In my opinion, investors are looking for steady growth and good returns. At the moment, the city of Detroit provides both of these,” comments our partners.

Demand for property in Marbella is outstripping supply. The Costa del Sol hotspot has long been one of Spain’s most popular markets, but optimal conditions in Spain have sparked a surge in demand in the past year. Indeed, the weak euro has boosted demand from British buyers, with low values serving to make property even more attractive at all price points.

Recent data from the General council of Notaries show that average prices across Spain have fallen in 10 out of the last 12 months, despite steadily increasing sales. In 2013, there were an average of 25,505 transactions a month across Spain. In 2015, that rose to 32,541.

There are regional variations, though, and Marbella has emerged as one of the strongest markets in the country. Prices in the province of Malaga (which includes Marbella) fell by up to 35 per cent in the higher end of the market from the 2008 peak to 2013, but they have stabilized in the last couple of years. In the last 12 months, this area of Spain has now seen the fastest price increases in Spain – up by 4.8 per cent, according to Fotocasa.

“The profile of the average Marbella buyer is also changing – they are getting younger and are more focused on lifestyle, design and quality.”

Newly built properties in these kind of locations are currently the most sought-after, with many selling out just months after their release.

According to the College of Architects in Malaga, 492 building licences were issued in Marbella during 2015 compared to 143 in 2014 and just 80 in 2013, a sign that the market is gathering pace.

There is also significant demand for high end homes.

“The outlook for 2017 continues to look very promising for Marbella, and, with the increasing shortage of quality properties, we expect prices to continue to slowly increase”

Dubai’s real estate market is showing increasing signs of stabilising in 2017, according to an International firm of chartered surveyors and property consultants based in Middle East.

The market has seen prices moderate in recent years, following a rapid rebound in property values following the global financial crisis. Now, though, with Expo 2020 on the horizon, sentiment in the emirate’s real estate is improving, as there are signs of prices bottoming out and overseas buyers returning to the market.

The rate of decline across all sectors of the property market is slowing, which “suggests increasing stability”. The firm forecasts that the market is likely to bottom out by the end of the year, with increasing supply, changing demand for executive positions in the employment market and increasing rent moderation all major factors that will influence performance over the coming nine months.

“Office rents across submarkets we monitor remained relatively steady throughout 2016, following strong growth in the preceding 12 to 18 months. However, global economic anxiety and a subsequent scaling back or delaying of short term expansion projects, particularly amongst international corporate occupiers, has begun to impact on the resilience of rents,” .